SARB opens new branch at Adweso

SARB PixThe South Akim Rural Bank (SARB) at the weekend opened a new branch at a colourful ceremony at Adweso near Koforidua.

The Adweso office is the seventh branch of the SARB established 30 years ago in the Eastern Region.

Apart from expanding its operations in the region, the setting up of the new branch was also to make banking accessible to all within its catchment area.

The Board Chairman of SARB, William Kwadwo Boateng, in his address said despite the numerous challenges and huge competition facing the bank, it has been able to establish itself as a strong brand within its operational area.

He said the performance of the bank over the past five years has been tremendous, adding that the annual growth rate over the past five years ranged between 25 per cent for investments, and 65.2 per cent for shareholders’ fund.

According to Mr. Boateng, growth in loans, stated capital, total assets and deposits, recorded annual averages of 46.2, 44.4, 35.4, and 30.8 per cent respectively.

He said in 2010, the bank made a profit before tax of GH¢605,823, while in 2014 it realised GH¢1,991,509, representing 229 per cent over the period.

The board chairman appealed to the Adweso community to associate themselves with the bank and to take the opportunities provided to expand and upgrade themselves.

Dr. Kwaku Owusu Acheampon, New Juaben Municipal Chief Executive, who was the guest speaker, commended the management of the bank for opening a branch for the Adweso community, saying that will save the inhabitants from travelling long distances to access the facility.

He advised customers to pay back their loans on time to enable others to access it to expand their businesses.

Nana Tete Pimpong II, Adweso-hene, urged the public to cultivate the habit of savings, and assured the bank of the support of the traditional leaders in the growth of the new branch.

From Samuel Opare Lartey, Adweso, Koforidua

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